Recent draft:Effectiveness of modern age marketing: a case study of the Bank of America

Effectiveness of modern age marketing: a case study of the Bank of America

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Type: Dissertation

Volume: 60 pages

Purpose of the study
The objective of this study was to develop an analysis of the various studies to examine the effectiveness of modern age marketing applied to online banking. To achieve this, the study analysed the modern age marketing approaches together with their benefits and negative effects. The study also analysed the influence oftheinternet on marketing, commonly termed as internet marketing. Finally, the study also examined the impacts of modern age marketing.
Research methods of the study
This study employed mixed methods of research. The study was qualitatively presented with case studies being analysed and data presented in tables. Additionally, the study also interviewed a sample of financial experts and presented a critical analysis of the collected data.
Study findings
In a quest to determine the effectiveness of the modern age marketing, the study found that, there has been significant evolution marketing with time and that modern marketing methods are significantly better than traditional methods. Additionally, the study identified that if enterprises positively utilise modern marketing methods, the business would reap heavily. However, the study also identified that negative/poor marketing strategies would not yield good fruits.
Implication of the study
From the study, it can be implied that marketing is a vital tool for the business. Therefore, banks should diversify their e-marketing techniques for online banking by employing vast approaches covered in this study. Secondly, this study developed a clear analysis of the marketing approaches and thus, businesses and marketing students can benefit from the information covered herein.

Chapter 1 Introduction and Background (1,790 words approx. 10% of total Word count)

1.1 Introduction
Marketing has received a variety of definitions some more complex than others. However, the American Marketing Association attempted to present clearer definition. Marketing can be defined as the process of management that involvesthecreation, design and dissemination of messages on valuable offerings and products to the customers (AMA 2013). Throughout history, marketing has undergone evolution and currently, modern age marketing is ominously different from traditional marketing (Nicolau et al. 2014). Doole& Lowe (2008) explain that the concept of modern age marketing entail not only meeting the customer needs and expectation by the corporation but also exceeding them in comparison to competitors.
According to Gordon (2011), the use of internet in entertainment and every aspect of human life hassince witnessed the businesses exploit the avenues presented by technology to attain maximum results in terms of generation of sales and building customer relationships. This has clearly pictured out the power of modern age marketing. This section elaborately covers the historical evolution of marketing through various marketing philosophies that have been developed over time. The section also presents the questions regarding the effectiveness of modern age marketing that shall be answered in subsequent chapters of the study.

1.2 Background to the study
Marketing has been a field of concern to many scholars (Young 2010; Patil&Blakkad 2011). Studies have identified that marketing has continually evolved and thus has an elaborate history. According to Ryan and Jones (2009), people through ages have sought to influence others by utilising all media avenues at their disposal. There is evidence of marketing materials through ages and in different countries like ancient Greece and Egypt, archaeological excavations have identified these materials (Ryan and Jones 2009). To elaborate further, Keelson (2012) identifies that the key concepts have directed the evolution of marketing and the strategies that have been developed thereof. While the strategies have been quite elaborate, there are just a few concepts of marketing that have been developed (Keelson 2012). These concepts direct the current marketing initiatives employed by businesses and banks in specific.
The evolutions in the concepts of marketing are clear manifestations of the business philosophies that have been developed and championed towards addressing the changing customer needs with respect to time (Kotler&Armstrong 2008:2009; Pride 2008; Kotler& Keller 2008). In fact, these business philosophies have aimed at ensuring customer satisfaction (Schiff man 2009). Keelson (2012) identifies that business concepts have been developed since the 1850s. Through the history, the dominant business philosophies that have been developed include production philosophy (Kerrell et al. 2008; Pride 2008), product philosophy (Keelson 2012), selling philosophy (Kotler & Armstrong 2009), marketing philosophy (Keelson 2012), societal marketing philosophy (Kotler &Armstrong 2008) and holistic philosophy (Kotler & Keller 2009).
Keelson (2012) clearly highlights that production philosophy was developed because people and business professionals largely focused on building industries and production of products. According to Schiffman(2009), production philosophy assumes that customers will buy products that are readily available and affordable. Furthermore, Pride (2008) explains that marketing modeled on the production philosophy centers on highlighting the availability and affordability of the products sine manufacturers focus on pitching their products as the most affordable in the market. While production philosophy is not favored in the modern marketing era, Keelson (2012) identifies that in the event where a new product is being introduced in the market with more dominant competitors, production philosophy can be the most effective solution to winning customers and generating sales.
Product philosophy diverts significantly from the production era where manufacturers pitched their products and concentrated on making products available and affordable to the customers. Tracing its origin from the 1850s through the 1930s (Keelson 2012), product philosophy emphasises the quality of the products since it assumes that consumers will tend to consume products of quality and performance. In this case, increased innovation and quality in products dominated the production. Marketing of the products clearly highlighted the unique quality features possessed by the products (Kotler& Armstrong 2008). There are shortcomings of the product philosophy of marketing, and the most important to mention is that manufacturers employing this philosophy tend to focus explicitly on the products at the expense of the needs and preferences of the consumers that must be satisfied (Schiffman 2009).
Marketing philosophy established its roots in the 1950s and has been dominant to date (Keelson 2012). The concept behind this philosophy is that appropriate marketing strategies should be developed and employed and that the company should make what it can sell not what it can produce (Keelson 2012). This philosophy puts the customers’ wants and needs at the core of the marketing strategies developed by manufacturers. Nicolau et al. (2014) find that as a branch of knowledge, marketing has been studied since the twentieth century. First, marketing was studied as a branch of applied microeconomics and has since evolved to become an independent field of study by itself (Nicolau et al. 2014). Thus, it is the study of marketing that has witnessed the dominance of this philosophy in the modern day. Kotler& Armstrong (2010) have identified that the current marketing philosophy employs the outside-in approach. Thus, attention in the business sector has shifted from production problems to marketing problems. In this case, there has been a shift from the products that can be made to the products that the customer want, and this makes the most difficult puzzle (Keelson 2012).
Societal marketing philosophy has emerged since the 1970s and complements the marketing philosophy. However, societal marketing philosophy assumes that there is a conflict between the customer’sshort-term wants and the long-term societal needs (Keelson 2012) and that the company needs to focus on a practice which ensures the long-term consumer and societal welfare (Kotler& Armstrong 2009). This philosophy has spurred debates with Kotler& Armstrong (2010) asserting that this is the best marketing approach to be adopted by businesses. The importance of this marketing concept has since come to be appreciated when the effects of the businesses on the society and environment have become pronounced (Keelson 2012). Regardless of these philosophies, this study establishes and examines how they play out in the current modern age marketing strategies employed by the bank of America through its online banking.

1.3 Research problem
The bank of America as a financial institution has developed to offer various banking services tailored at meeting the customer needs. The annual report 2014 explains that the bank has developed since its formation to offer services to individual clients as well ascompanies and businesses (Bank of America 2014). On the other hand, according to Forbes (2016), in the financial year ending 2015, the bank of America was position 9 in the top global banks listing. the bank has a market capital of $156 billion as of may 2016 (Forbes 2016). the bank was founded in 1904 and is based in the united states of America but has global client network. It has an approximate annual sales of $91.5 billion and over 200,000 employees (Forbes 2016). These facts and statistics have provided insight as to selection of the bank regarding that it is among the top global performers as a bank and financial holding. According to the bank of America (2014), the bank offers customer banking, global wealth and investment management, global banking, global markets and legacy assets and servicing. With the current technological advancement, the bank has adopted online banking platform to facilitate these services.with regard to this, marketing has been central to development of businesses, banks included.
Technology has underpinned the way marketing is carried out today (Ryan & Jones 2009; Keelson 2012; Kotler& Keller 2009). The banking industry has witnessed waves of changes in the banking practices with most banks turning to online banking solutions to provide services to customers swiftly and attain customer satisfaction (Driga&Isac 2014). The literature presented by Wisdom (2012), ICT is an important factor for the revolution in the banking industry with the current online banking and marketing depending largely on the internet. However, there is one main question that arises in this situation, is modern age marketing effective in the online banking sector employed by the Bank of America? This study provides an answer to this.

1.4 Aims and objectives of the study
This research will be seeking
a. To provide a detailed understanding of bank of America’s online banking
b. To critically analyse the factors influencing adoption of online banking at bank of America
c. To comprehend and understand influence of internet marketing on bank of America
d. To advance a comprehensive explanation of the impacts of internet marketing on online banking at the bank of America
1.5 Research questions
1. What is online banking?
2. What are the factors influencing adoption of online banking?
3. What is the influence of the internet on marketing in online banking?
4. What are the impacts of internet marketing on online banking business?

1.6 The relevance of the study
This study adopts a careful critical analysis of the effectiveness of modern age marketing. In this case, the study identifies the various channels that are used in modern age marketing of online banking businesses with a case study on the bank of America. This way, the study is relevant because it provides a variety of evidence-based knowledge that can help the business in devising the marketing strategies to use. The study is also relevant since it presents a clear picture of the various strategies employed in modern age marketing, highlighting the pros and cons and further evaluating the effectiveness of digital marketing which is of help to scholars and marketing professionals as well as businesses.
1.7 Structure of the Dissertation
In the subsequent coverage of this study, Chapter 2 presents an elaborate literature review focusing on the secondary studies. Chapter 3 presents the methodology used in this study and chapter 4 presents a critical data analysis and presentation. Chapter five presents the discussion of the results from the literature review and data analysis. Finally, chapter six presents a conclusion, implications and the recommendations highlighted from the study.

Chapter 2 Literature review (6,255 words approx. 35% of total Word count)
2.1. Introduction
Literature presented by Boote&Beile (2005), explain that an academic study is a systematic evaluation of the scholarly materials presented from other secondary sources that are relevant to the current study. To elaborate further, Boote&Beile (2005) identify that the review of relevant literature helps to provide justification for the present study. Furthermore, it illustrates the studies that have been previously undertakenin relation to the current study. Most importantly, literature review provides the context for the research (Boote&Beile 2005).
In line with this explanation, this section presents a detailed review of scholarly studies relevant to the objectives of this study. In so doing, a critical analysis will be presented in the course of the discussion. Regarding the sources of the review of the literature, this study shall examine secondary materials like books and journals.
2.2. Understanding the bank of america’s online banking

The banking industry invested heavily in physical infrastructure to safeguard customer assets and ensure the safety of their savings. According to literature presented by Carr (2007), the bank of America has intensively invested in infrastructure and operations to safeguard the bank transactions by its global customer coverage. However, according to Driga&Isac (2014), the development of ICT has constantly wielded out the need for the traditional banking system. Customers and banks alike have shifted away from face to face banking method to a more advanced, technology-driven banking with internet and voice calls being increasingly utilised. In a similar manner, online banking has developed and is also commonly referred to as internet banking or e-banking (electronic banking).
There have been attempts to define what online banking is. According to Keivani et al. (2012), electronic banking is an umbrella term for a process by which customers perform banking transactions electronically, without visiting the bank institution. However,Wisdom (2012) present a differing definition from that of Keivani et al. (2012) by explaining that in electronic banking, customers use various technology-mediated tools such as Automatic Teller Machines (ATM), electronic funds transfer, electronic smart cards, and cell phone banking to perform bank transactions. It is important to note that, in the event of technology adoption in banking, there has been increased use of these services, and thus, the surplus tends to outweigh the demand. This therefore means that for a bank to attract and sustain customers on its online banking platform, marketing should be adopted (Agwu et al. 2014). However, while there is a wide literature that contend to the fact that online banking used by the bank of America is beneficial, there is difficulty in measuring exactly how this is achieved.
Some studies have identified the features of online banking. According to Ayuba&Aliyu (2015), online banking services are characterized by intangibility, inseparability, heterogeneity and perishability. In the case of intangibility, Ayuba&Aliyu (2015) explain that the services offered by online banking are intangible as they cannot be seen, touched or felt or smelled. With regard to inseparability, Ayuba&Aliyu (2015) explain that the services are produced and consumed at the same time. Heterogeneity means that service performances are highly variable from one service transaction to another (Ayuba&Aliyu 2015). Finally, the services are highly perishable in a sense that time consideration is well thought out. For instance, transfer of money electronically takes just a couple of seconds. However, it is important to note that some instances, technological failure can heavily cost the services of online banking.
Mihic et al. (2015) identify dominant types of online banking as internet banking, mobile banking, QR codes and social networking sites. While the first two largely focus on banking transaction, the latter two focus on communication between the banks and customers. Internet banking utilises IT to provide banking services to the customers. Thus, Mihic et al.(2015) point that internet banking can be utilised through smart cards, cash machines, website and electronic money transfer services. Zelenovic (2012) clearly highlights the advantages of internet banking as thespeed of transactions and estimation of the transactions for easy tracking of banking activities. Mobile banking allows for banking transactions through mobile phones with aninternet connection. According to Petkovic (2014), the advantages of mobile banking include customer loyalty, theability for personalization and availability of the services. Mobile applications, websites, M-banking and QR codes can be utilised.
Regardless of the types of online banking presented by Mihic et al. (2015), Driga&Isac (2014) and Driga (2012) highlight different types of online banking as home banking, PC banking, internet banking and mobile banking. Home banking is explained by Driga (2012) as a practice where the customers access the personal accounts and perform banking transactions from home by simply making phone calls. PC banking is where customers utilise financial software programs to perform banking transactions.Although in full concurrence with Driga (2012), the bank of America (2014)annual report clearly posit that the bank has invested in technology to solve problems beyond online banking. The annual report some aspects are achieved due to technology incorporation in the banking activities. Bank of America has designed simple and easy to use products, access to technological knowhow of the banking procedure, online banking alternative, and specialized expertise (Bank of America 2014). All these aspects have been achieved due to various online banking investments. In a different view from that of Driga&Isac (2014), the bank of America (2014) report assert that there is a link between online banking offered by the bank and the customer and business banking transactions witnessed thereof. The report highlights that the bank witnessed a net customer and business banking income of $ 7096 dollar millions, the value that is largely achieved because of online banking. In a similar manner, the report highlight in the year ending 2014, bank of America had a net income from global wealth of $ 2974 dollar millions with significant growth in the loans and leases and deposits compared to the 2013 year. Online banking practices has been identified to be responsible for the growth and the performance of the banks in the market. However, regardless of the divergent views presented by various scholars pertaining online banking, it is important to emphasize that the bank of america’s financial growth has been significantly attributed to quality of services offered to its customers and that to achieve this, marketing has been employed to build and maintain a large customer network.

2.3. Factors for adoption of online banking at bank of america

Online banking is largely used by the bank of America to satisfy the ever growing global customer network (Halabi&Lussier 2014; Rollins et al. 2011; Hollensen and Opresnik 2010). Different studies have established that central to online banking, there are factors that have in a way propelled the bank to embrace the banking practice and even invest intensively in technology to facilitate this venture (Fill & Jamieson 2011; Maya 2015).
However, while Maya (2015) explain that banks have been propelled by certain factors to invest in online banking, Fill and Jameison (2011) adopt a specific view by explaining that these factors can be categorised as internal and external factors. Internal factors are those that have been generated within the organization and are thus in most cases specific to a particular organization while external factors are those that are generated from the outside environment and in most cases affect many organizations collectively (Walsh & Lipinski 2009; Keelson 2012; Cronin-Gilmore 2012; Resnick et al. 2011; Sen&Haq 2011; Centeno& Hart 2012). However, it goes without saying that whether internal or external, there are certain factors that influence adoption of online banking by the bank of America.
In an attempt to conclusively develop an explanation of the factors responsible for adoption of online banking by financial institutions, different researchers have used varying frameworks (Ayuba&Aliyu 2014; Kapferer 2005; Claye et al. 2013). Ayana (2014) has identified some factors that influence adoption of online banking. These factors have been grouped into three categories namely environmental factors, organizational factors and technological factors. In a differing view from that of Ayana (2014), Gikonyo(2014) highlights that cost savings and reduction of branch networks to be critical factors behind online banking. Maya (2015) however identifies that studies regarding these factors are still quite limited. This study adopts a similar view with that presented by Ayana (2014).
Internal factors
According to literature presented by Walsh& Lipinski (2009), adoption of online banking can be attributed to some internal factors. The bank of America therefore must have assessed its capacity to accommodate online banking, the cost benefit analysis and the impacts of online banking on their business before adopting the practice. In a more general view, both Gikonyo(2014) and Ayana (2014) concur that internal organization based factors can influence the adoption of online banking.
Cost savings is explained by Gikonyo (2014) as a consideration by banks that in the event of adopting online banking, the bank would heavily reduce its operational costs and expenses. Compared against infrastructural development, the fact that online banking doesn’t require intensive investment in infrastructure, labour and other resources like stationery,Keelson (2012) explains that, the bank would resort to online banking and minimize these expenditures. This is a more practical explanation of cost saving scenario that could drive the bank to adopt internet banking.
However, in a varying perspective from that of Gikonyo (2014), Maya (2015) clearly explains that a cost benefit analysis should be performed by the bank to develop an insight on whether online banking would be cheaper. In most cases, this cost saving analysis depends on other aspects like capital position of the bank. However, generally, the bank of America’s performance in the market and global coverage of customers, online banking was adopted because its operational costs are quite low compared to conventional banking methods that existed before.
Financial and human resources are identified by Ayana (2014) to have been an internal factor for adoption of online banking. To justify this argument, Ayana (2014) identifies that online banking doesnot require heavy financial and human resources to establish, run and maintain. Infact, the system, unlike the conventional banking can operate on 24/7 basis. That is 24 hours a day, 7 days of the week. The customers can access and transact through online banking anytime which is a shift from the traditional banking where the banks could close after certain hours thus limiting the customers transaction time. Furthermore, Maya (2015) explains that online banking doesn’t require huge human resources. Therefore, a few IT skilled and banking professionals can conclusively run the online banking business. In a different view from that of Maya (2015), Zhu& Kraemer (2006) explain that online banking has a high return on investment since from the marketing analysis, banks and financial institutions that perform online banking have a better market performance compared to those that do not use online banking.
External factors
The literature presented by Sen&Haq (2011) highlight that online banking adoption by banks is largely a function of the external environment and factors. In this case therefore, once the waves of change hit the industry, the players ought to restructure and accommodate them (Cronin-Gilmore 2012; Resnick et al. 2011; Centeno& Hart 2012).While Cronin-Gilmore (2012) largely concurs with Sen&Haq (2011), Centeno& Hart (2012) tend to argue that in an event of occurrence of the wave of change, innovation and competition are critical aspects that are considered by the bank when adopting online banking. It is for this reason that Resnick et al (2011) explain that online banking platform used by the bank of America differs significantly with other online banking solutions offered by competitors.
Under the external factors, Ayana (2014) identify that the legal framework regarding the adoption and operation of online banking significantly influence the level of online banking practices adopted by the bank of America. For this reason, there are laws that regulate online banking that bank of America upheld and integrated in service delivery of online banking.
The national standard of ICT infrastructure also significantly influence the adoption of online banking (Chang et al 2007). Another factor is competition pressure from other banks and financial institutions that provide challenge and pressure for the bank of America to adopt and continually upgrade its online banking system lest it loses its customer network to other competitor banks (Ayana 2014). However, Maya (2015) clearly highlights that to stand the competition, the bank ought to have the necessary financial and technical know-how to designan innovative and quality online banking system.
Technological development and risks present an influence on online banking practices devised by banks. According to Ayana (2014), actual and perceived technology risks and benefits can significantly impact the adoption of online banking. Generally, when choosing to invest in online banking, the bank needs to analyse the potential benefits that could accrue from that technological integration (Chang et al 2007). However, the bank needs to also consider the potential risks and how to mitigate against such risks. In this case, safety and security of the customer information and transactions need to be given a careful thought (Ayana 2014). It goes without saying that, the factors covered above, both external and internal potray varying impacts in fostering or inhibit the adoption of the online banking system by the bank of America.

2.4. The influence of internet marketing on bank of America’s online banking
The development of the internet has by no doubt revolutionized the modern age marketing. Organizations, banks in specific, largely rely on the internet in designing and disseminating information to the audience (Ryan & Jones 2009; Renart&Cabre2005; Takalani 2015). According to Epstein &Yuthas (2007) the internet can be used for marketing and for this reason, they define internet marketing as using the internet to market and sell goods and services. Additionally, most of the marketing is done through various online platforms.
The National Tourism Development Authority (2012) explain that with the internet, marketing has expanded from outbound to inbound strategy. According to NTDA (2012), the outbound strategy entailed interruption of the market by invading the mediums to grab the attention of the users. On the contrary, inbound marketing entails providing something of value to get the attention of users and thus generate the customer traffic (NTDA 2012).
According to NTDA (2012), marketing on the internet can be done through search engine optimization, email marketing, social media and online advertising. Besides the above strategies explained by NTDA (2012), Ryan & Jones (2009) add the need for website intelligence by banks in developing the online marketing strategy. However, there is no clear guideline on how this intelligence can be developed and used in marketing.
2.3.1 Search engine optimization
Ryan & Jones (2009) present a clear picture of the online of users. In their simple explanation of the search engine optimization, Ryan & Jones (2009) identify that there is a need for the organization and its online communication to be found by the users. The audience accessing the internet will use the search engines to type queries and look for the information which they click through and access their desired information or website. Therefore, as a business, there is a necessity to make the online presence felt (NTDA 2012; Kerr et al. 2008; Laitinen 2009). While this sounds quite simple, Ryan & Jones (2009) identify that the chances for online users to find the organization when they perform a random search is quite negligible. Contrasting against Ryan & Jones (2009), Bughin et al. (2011) identify that with good tactics, an organization can pitch its visibility on the Internet such that it can just almost immediately be found by users who randomly search through the major search engines.
Bughin et al. (2011) identify that online search technology is barely 20 years old and has revolutionized the world’s online practices. In their literature, Bughin et al. (2011) explain that online search technology has empowered people and organizations since billions of people utilize the search engines on their everyday life (Bughin et al. 2011; Egan 2011; Hurrigan et al. 2012). In spite of all this, the importance of online search cannot be inconspicuous. For instance, Ryan & Jones (2009) emphasize that Google has grown drastically, and this is attributed to its rapid technological development.
According to NTDA (2012), search engine optimization is about ensuring that search engines give priority to your web pages when the users search through them. Keywords are developed and used in ensuring this search is fruitful. Furthermore, NTDA (2012) identify two main approaches to search engine optimization that organizations can use for marketing. On-page optimization is a process which entails optimizing the content within the web page such that the search engine indexes it according to standards. Additionally, the search engine goes through content on the web pages and determines what index should be accorded. Conversely, off-page optimization is a process where people link to your website and thus the more relevant links you generate, the better your web page is rated and optimized (NTDA 2012). Therefore, if the page attracts more links (votes), its search engine optimization indexes increases and thus its visibility increases. However, the bank can as well adopt both on-page and off-page optimization to reach a wide user coverage. In a different argument with that of NTDA (2012), Ryan & Jones (2009) identify four methods of search engine advertising that a bank can use. These methods are paid search marketing, paid per click, paid placement and search engine marketing (Ryan & Jones 2009). Furthermore, paid search marketing is paid-for advertising that appears alongside, above or below organic listings. Usually, when users enter a search string into the engine, it generates a list of organic search results (Ryan & Jones 2009). In this case, the bank earns for the pay per search, click or placement depending on the activity of the user on the page.
In marketing, Keller (2009) establishes that time is a crucial aspect that ought to be used by advertisers. To elaborate further on the view of Keller (2009), Ryan & Jones (2009) identify that developing content to attain the desired index and attract the user traffic can often require significant time expenditure which hampers the business’ alternatives of marketing. Contrasting the view of both Keller (2009) and Ryan & Jones (2009), Bughin et al. (2011) explain that effective use of search engine saves time that could otherwise be spent in developing other marketing strategies with high attraction potential. Therefore, a standard marketing accessed by customers through searches can convert such customers to online banking. The bank can utilise the above channels to notify a wide online audience of the servicers, especially online banking that they offer and by so doing attract online users who eventually become customers.
2.3.2 Social media marketing
NTDA (2012) explain that social media is a relatively new technological advancement which makes use of the online platform to provide an ample environment for people to network online and interact with each other. In concurrence, Ryan & Jones (2009) explain that besides being a relatively new advancement, social media is also among the rapidly developing technologies on the internet. Therefore, with the social media being used as a communication and networking platform, users have occasionally engaged in recommending products and services to other users and thus engaging in marketing. This has thus shaped the customer purchasing habits. Banks can thus utilise this opportunity to engage in various marketing activities(Keller 2009; Palmatier 2008).
In comparison to the explanation offered by NTDA (2012), Ryan & Jones (2009) define social media as an umbrella term for web-based software and services that allow users to interact online and participate, engage and communicate in social interactions. Furthermore, Ryan & Jones (2009) establish that social media is not a new term since online interaction has been existing for a long time. Besides their argument, it should be understood that the current social media platforms are relatively new (NTDA 2012). Both NTDA (2012) and Ryan & Jones (2009), identify some common social media platforms. These platforms are Facebook, Twitter, MySpace, Scribd, YouTube and Instagram just to name a few.
The influence of social media sites on marketing has been clearly highlighted. To begin with, Neti (2011) highlights three main aspects through which social media influences marketing. These are transparency, branding and website traffic. On the other hand, Kaushik (2012) highlights visibility, communication and customer coverage as key aspects through which social media influences marketing. By and large, positive social media marketing has been linked with high customer loyalty and vice versa.
First, transparency is explained by Neti (2011) that through social media, the bankis presented with an opportunity to post true information. In fact, Neti (2011) emphasizes that with social media, the company cannot fake its authenticity. On the contrary, Kaushik (2012) explains that while transparency can be effectively utilized, banks are susceptible to suffer fraud from fraudsters who can fake the bank’s information and use to obtain money from innocent customers.
Secondly, visibility is explained by Kaushik (2012) as an avenue where social media platforms attract numerous users who not only engage by socializing and communicating but also recommend and seek products offered by banks. As a result of the ample users on social media websites, the bank can enjoy high potency of their marketing campaigns to be visible and shared. In contrast to the view of Kaushik (2012), Neti (2011) asserts that while visibility offers a good perceptibility option for the banks, the chances are that if the marketing strategy developed is below standards, there is little likelihood for it to be visible or attractive to users on the media sites.
Third, social media platforms can be used by bank to build website traffic which in turn makes it easier for it to market their products easily (Neti 2011). In this case, the bank can devise measures to build customer traffic and in turn not only attract the customers but also utilize this avenue to foster its marketing campaign (Neti 2011). However, Kaushik (2012) emphasize the need to devise appropriate measures which can only then lead to customer traffic. It goes without saying that the standard of marketing strategies to be developed is quite critical in determining the success of customer traffic.
Finally, social media presents an opportunity for the bank to reach a wider market. To emphasize further, Kaushik (2012) explains that social media has traversed beyond national borders and largely has a global coverage in nature. For this reason, banks through their marketing strategies can develop their businesses to an international level so that they can serve wider customer coverage. While the argument of Kaushik (2012) is valid, Neti (2011) points out that achieving this might require tremendous efforts.
2.3.3 Email Marketing
Jenyo&Soyoye (2015) define email marketing as a form of direct marketing where electronic mails are used to communicate with the potential customers. Having defined email marketing campaign, Jenyo&Soyoye (2015) explain that proper campaigns can be used to build customer traffic and generate sales. Thus, email campaigns can influence marketing in some ways (Grönroos 2007; Brito 2011: Sen&Haq 2011).
To begin with, email marketing influences the customer traffic generated by the bank. According to Ryan & Jones (2009), effective email campaign strategies can attract a large number of potential customers who can be converted to become loyal customers. In concurrence with Ryan & Jones (2009), NTDA (2012) emphasize that not only are email campaigns personal in nature, they can also lead to a high customer traffic and increased business for the bank as many of its clientele will be using online banking. While this may be true, Jenyo&Soyoye (2015) on the other hand highlight that such campaigns need to meet marketing standards and be appealing for them to attract the customers. To further support their argument, Jenyo&Soyoye (2015) explain that if the email is not tailored, it will likely be put to trash and thus will fail to attract the customer potential.
The above-discussed online platform can be employed by the bank of America in e-marketing. However, the customers play critical roles in choosing the marketing and making purchases. According to Jenyo&Soyoye (2015), the customer view towards online marketing is quite critical and need to be examined. According to Nguyen & Hoang (2008), customers feel confident of using online banking basing from their prior experience. Regardless of the explanation offered by Nguyen & Hoang (2008), Davidson &Copulsky (2006) explain that the main influence of internet marketing on the customer purchasing habits is that it offers customers a platform to compare and contrast through various products. Therefore, the customers will pursue their preferences by selecting the online banking solution viable for them. The bank can then utilize this platform to offer valuable marketing messages to attract larger customer network. Customer privacy is also considered when using online banking, and by guaranteeing customer privacy, the Bank of America will be assured of a long-term customer loyalty.
2.5. Impacts of modern age marketing on online banking offered by Bank of America
Internet marketing has by no doubt significant impacts on the online banking services utilised by banks. In this case, there are both positive and negative impacts of internet marketing on online banking. These impacts have been witnessed by banks and even by the customers. The short-term benefits of online banking to banks and customers have been identified by Baraghani (2007) to include cost savings, reaching new population segments, efficiency, better customer service and customer satisfaction. Negative impacts of internet marketing have also been identified. Most of them include hacking, phishing and cyber-related crimes where poor systems expose online users of online banking services susceptible to identity theft and other vices (Driga&Isac 2014). The dominant impacts of internet marketing on online banking are further evaluated as follows.
2.4.1 Relationship building and customer loyalty
Relationship building is an outcome of modern age marketing of online banking. This statement is supported by literature presented by Ryan & Jones (2009). In concurrence, Palmatier (2011) asserts that an effective relationship can help the bank strengthen its operations. Furthermore, NTDA (2012) explain that while relationship building is an approach that can be used in marketing by banks there are two possible outcomes. First, Ryan & Jones (2009) identify that an effective marketing strategy can lead to customer relationship building which further causes customer loyalty in the long term. To support the explanation by Ryan & Jones (2009), Brito (2012) argues that customer loyalty built from various marketing strategies can result in tremendous economic growth for the bank.
Secondly, Palmatier (2011) identifies that with regard to customer loyalty, effective marketing strategies can result in a long-term customer network creation which exhibits two-fold impacts. In this case, Palmatier (2011) identifies that with a large customer network, the bank can be able to compete favourably in the market and get a return on investments. On the side of the customers, Palmatier (2011) identifies that customers can benefit from various business initiatives like corporate social responsibility. Although in agreement with Palmatier (2011), Keelson (2012) emphasizes that building customer loyalty is quite demanding and if the business makes a mistake, it can lose customer loyalty within a short period of time. Thus, the bank should aim at building a lasting customer loyalty through its activities.
Third, effective marketing can result in the production of quality services for the banks. This is acknowledged by Ryan & Jones (2009) who argue that customer feedback from marketing campaigns can help the banks improve their products and services to meet the needs of the customers. This causes, as explained further by NTDA (2012), provision of quality products and services in the market. Therefore, the society benefits as customers are offered quality products which will not be harmful to their health. Although Keller (2009) largely agrees with Ryan & Jones (2009), he tends to argue that such condition offers a high competition environment making it difficult for emerging bankimg businesses to grow despite the fact that they might be offering quality products compared to other dominant and established business.
2.4.2 Economic growth and internationalization
There is a link between marketing and internationalization of the products. According to Ryan & Jones (2009), technological advancement has made it easier for marketing campaigns by banks with regard to online banking to be accessed globally. In Concurrence, NTDA (2012) further highlights that banks that have properly employed modern online marketing have proportionally expanded to offering their products to different countries across the globe. There are impacts that have resulted from that. First, modern age marketing has led to the diversification of production resulting in the development of economies of banks and countries (Ryan & Jones 2009). NTDA (2012) further explains that this has been as a result of the accessibility of overseas markets by banks created through customer network and traffic. To elaborate further, Ryan & Jones (2009) explain that countries have entered into bilateral and multilateral business agreements to allow banks invest and sell products to overseas markets. From these initiatives, they have registered economic growth and internationalization of their operations (NTDA 2012). Although largely in agreement with this explanation, Halabi&Lussier (2014) however argue that cultural variations and heterogeneity of the markets have presented a challenge for businesses to design an attractive marketing campaign that would attract a large customer network.
Secondly, Ryan & Jones (2009) have identified that marketing has been employed by banks as a way of manifesting its brand. Thus, as NTDA (2012) explain, sometimes banks have failed to concentrate much on their products and services, but have in most cases focused on building their image and business brands. In this case, most campaigns have targeted at positively exhibiting the image of the business at the expense of the quality products offered. In the explanation that is quite similar to that of NTDA (2012), Palmatier (2011) identifies that there are other factors that determine marketing, specifically internet marketing and these are political will, cultural variations and the economic status of the customers in overseas countries. The bank that make use of modern age marketing will develop economically and experience these important impacts for continuous growth. However, online banking has faced some negative effects that have significantly diminished customer trust. Among these impacts include hacking and invasion of customer privacy through unlawful access to the bank servers by criminals who have then resorted to perpetrating fraud. Secondly, system failures and breakdowns have resulted to customers registering significant losses, and thus marketing campaigns have done little to repair the images of banks in such situations.

2.4.3 Advancement of marketing as a field of study
Most studies (NTDA 2012; Palmatier 2011; Brito 2012; Keller 2009) tend to agree that modern age marketing has largely contributed to the advancement of marketing as a field of study. However, the reasons supporting this statement have been slightly varying. Comparatively, scholars tend to differ in terms of how marketing as a field of study is an impact of e-marketing as adopted by the bank of America. First, Ryan & Jones (2009) have identified that in the modern age, the bank has preferred employing professionals with educational expertise and skills to independently manage and perform its marketing campaigns. Banks alike have employed technocrats whose role is designing various marketing messages to attract a large network of users. Since the supply of online banking is slightly higher than demand, the quality level of e-marketing matters in the campaigns. This explanation has been supported by other scholars as well (NTDA 2012; Keller 2009). On the other hand, Palmatier (2011) argues that the reason behind the advancement of marketing as a field of study is due to the waves of globalization and advancement in the marketing strategies. For this reason, interest has been developed to explore the secrets behind marketing. This has then translated to the advancement of marketing as a field of study (Palmatier 2011). Financial institutions to be exact can use online platforms to perform research on the marketing approaches that can be adopted and utilized effectively. The impacts presented herein have two-fold effects. Generally, when appropriate marketing strategies are adopted, positive results are witnesses and the opposite is true when the strategies adopted are substandard or ineffective.

2.6. Conclusion
From the above extensive literature review, it can be identified that marketing is an important aspect not only for the operation of the business but also the economic position of the businesses. There are banks that have employed e-marketing to boost their sells but have failed to achieve their objectives. On the other hand, there are those that have invested in marketing and reaped heavily. The reason behind this variation lies squarely in the e-marketing strategies adopted by the organizations.
Secondly, the internet has significantly revolutionized the field of marketing. In fact, modern age marketing is largely based on the internet. For this reason, different studies have identified and evaluated different modern age marketing strategies. The major strategies used in modern age marketing have been established to include social media marketing, email campaigns, affiliate marketing and search engine optimizations.
Third, there are different impacts of modern age marketing in the society. From the above literature, it has been established that each of the reasons provided has both positive and negative impact both on the organization and the society at large. Besides, the impacts of modern age marketing have been identified to cut across the customer loyalty, internationalization and economic growth and even development of marketing as a field of study.
Finally, there are good practices for effective marketing. From the literature presented above, it goes without saying that to carry out an effective marketing campaign; the business should follow the standard procedure to ensure that a quality marketing message and the campaign is carried out. Also, the business ought to consider other aspects that can significantly affect the effectiveness of these marketing campaigns.

Chapter 3 Research methods (2,680 words approx. 15% of total Word count)
3.1 Introduction
Research design has been highlighted to be important in the research studies. This is supported by Kothari (2004) who explains that research design focus on the critical questions that the study seeks to answer. In a simplistic view, Kothari (2004) explains that the aspects of research regarding how much, what, where and by which means constitute the research design since, as further emphasized by Kumar (2011) these questions are answered in the research design. Furthermore, Kumar (2011) defines research design as a plan and strategy that is constructed to provide an answer to the research questions. In this case, the design adopts an explanation of the outline that the study entails to employ hypothesis and implication of the study as well as the analysis of data (Kothari 2004).
To further understand the need for the research design in a study, Kothari (2004) explains that a good research design covers some vital aspects of the study. Kothari (2004) further identifies these aspects as means of collecting information, relevancy to the research objectives, flexibility, and reliability of the study. The explanation of Kothari (2004) is largely agreed by Kumar (2011). This section, therefore, presented a detailed explanation of the research design that shall guide this study especially in the data presentation and analysis as well as discussions in the subsequent chapters. To begin with, the section presented the research approach that shall be used in the study, especially in data collection and analysis. Also, the section emphasized the vitality of the research approach that is adopted. Furthermore, this section presented a detailed discussion of the aspects that build the methodology including sampling, research methods, and data analysis.

3.2 Restating the research purpose
The purpose of this chapter was to first present analysis of the literature regarding the established literature review. In this case, the chapter presented the explanations behind the reviewed literature on the research objectives presented. Furthermore, the chapter also accounted for the data analysis and rationalizations offered in the discussion through the study. Secondly, this chapter accounted for the sources of information that were used to support the arguments of the literature. To understand this, the subsequent sections of this chapter presented more clear information and approach for achieving the purpose envisaged in this study.

3.3 Research Approach adopted
To understand the research approach adopted in this study, it is important to understand what research approach is. For this reason, from the literature presented by Kozion& Arthur (2011), a research approach is the strategic observation and development of a study to establish the basis of such study. In line with this thought, Kothari (2004) view research approach as the foundation of the study through which the information collection, examination, analysis and presentation of the data is carried out.
Furthermore, Kothari (2004) briefly identified some major benefits that accrue from having a research approach in the study. Therefore, the research approach guides the thinking in the study that is adopted through data presentation and various arguments presented in the analysis and discussion of the results collected (Kothari 2004). In this case, therefore, the study allows for the presentation of information in a particular line of thinking that is largely directed by the research approach identified. For instance, Kothari (2004) identifies that deductive reasoning is often more appropriate for qualitative research approach.
The other benefit is that research approach helps generate new knowledge and build the existing body of knowledge. From the literature presented by Kothari (2004), a research approach helps to generate a body of knowledge that allows for factual based arguments and policy formulations since the data presented having carried out research is largely valid and can be relied upon in decision making. Furthermore, Kothari (2004) highlights that through a research based on the appropriate research approach; various problems can be conclusively solved.
In line with the literature review presented in Chapter 2 above, this research adopted a critical analysis approach to help link and evaluate the information and findings that are associated with the research objectives clearly stated in chapter 1 above. To achieve this, the study adopted exploratory and evaluative tactics to help compare and contrast information to aid in developing balanced and justifiable conclusions.
Exploratory tactics have been explained by Kumar (2011) as a viewpoint in the study whose objective is to either explore a particular area of interest for the study or to investigate particular aspects and variables as identified by the study. On the other hand, Kumar (2011) explains that evaluative viewpoint of the study focuses on presenting the balanced picture of particular aspects by comparing and contrasting facts that have been identified to be defining the aspects being studied.

3.4 Qualitative vs. Quantitative study
There is a clear picture that differentiates qualitative from the quantitative study (Kothari 2004; Kumar 2011). According to the literature presented by Kumar (2012), quantitative studies are well structured, designed and applies methods of data collection and analysis aimed at enhancing the validity and reliability of the study. To concur with the view presented by Kumar (2011), Kothari (2004) clarifies that the analysis of data is highly structured and is performed according to the established guidelines of study. Furthermore, the quantitative study involves formal and rigorous data analysis.
The quantitative study can further be classified into three categories as identified by Kothari (2004). Thus, the study can be inferential, experimental or simulation approach. The inferential approach entails forming a database that helps to infer the characteristics and differences exhibited in the analysis of the study variables. The experimentalapproach, on the other hand, entails the control of the research environment which often entails manipulation of the variables to observe their effects on other variables. While simulation approach entails construction of artificial environment within which the relevant information can be generated and analysed (Kothari 2004).
While Kumar (2011) concurs largely with Kothari (2004), he tends to adopt a more in-depth analysis of quantitative study approach. Kumar approaches quantitative study in terms of three broad elements. In this case, the quantitative study can be approached through the number of contacts with the study population which entails cross-sectional studies, before-and-after studies, and longitudinal studies. The second element of the quantitative study is the reference period which refers to the time-period for the study, and this element entails retrospective study, prospective and retrospective-prospective studies. The final element is the nature of investigation which entails experimental, non-experimental of quasi-experimental studies.
Both Kothari (2004) and Kumar (2011) agree that qualitative study varies from quantitative study. While quantitative study employs measurement and statistical methods, qualitative studies explore a phenomenon that cannot be easily quantified statistically. Kothari (2004) explains that qualitative study focuses ontheassessment of aspects of attitudes and opinions.
In adopting an elaborate view from that of Kothari (2004), Kumar (2011) identifies that qualitative studies can take some forms. First is case study where the aspect selected for study (case) is accorded a holistic, thorough and in-depth exploration of the aspect in questions and the elements that make up such case. The second approach is focus group interviews which entailexploration of the attitudes and opinions of the focus group by the researcher through discussions. The third approach is participant observation which entails establishing a relationship with the group to be studied and having done that, the researcher notes the information and of the study population being observed.
From the above extensive analysis of quantitative versus qualitative studies, it goes without saying that there is a significant and clear distinction between these two study approaches as utilized in the research. The main difference is established through statistical methods of aggregation and analysis of data as when they are used; such study is termed to be quantitative, and when they are not used, such study is termed as qualitative.

3.5 Research methods used- case study and secondary methods
Kumar (2011) explains that a case study is a qualitative research approach which entails the intensive study of the few instances of selected cases. Furthermore case study majorly examines an entity or what is referred to as a bounded system. Therefore, the case that is usually atypical in nature is analysed and the results thereof aggregated to other similar fields with common features as those exhibited in the case study. As Kumar (2011) explains, a case study is important when undertaking studies where little is known or when a holistic understanding of the phenomenon, episode, occurrence, situation, group or community.
Case study as a research method provides an overview and in-depth understanding of the cases under study. Therefore, the results that have been collected from a particular case study can be generalized and applied to other similar aspects that were not important. Also, the in-depth understanding developed from case study can be used in gaining a deeper understanding of other instances relevant and equally similar to the ones that are explored in the case studies. For this study, the case studies were extracted from secondary sources where results found from studies carried out that relate to the objectives of the study were analysed to provide a clear understanding of the study objectives explicitly highlighted in chapter one and explored through literature review in chapter 2 above. Therefore, this study focused on a qualitative study which entailed analysis of case studies from secondary scholarly work. Furthermore, to ensure sufficient data collection and discussion, this study generated questionnaires that were given to the sample respondents who filled them and upon filling, they were analysed and the results were presented in tables. Interviews were also conductedamong the respondents.
3.6 Data analysis
Data analysis is defined by Kothari (2004) as careful classification, collation and examination of data to identify similarities and differences between variables. Tabulation has been identified by Kothari (2004) as the most commonly utilized data analysis method in qualitative studies. Tabulation is a data analysis approach where assembled data is organized and presented in a clear and summarized manner using tables. Kothari (2004) identifies that tabulation has three main advantages. First, tables conserve space, and this minimizes the explanatory statements. Secondly, tabulation facilitates data comparison. It also allows for summation of data and finally, it allows for computation. Since this study adopted a qualitative approach, tables were utilized in Chapter 4 for data analysis. Furthermore, data analysis in this study also utilized comparing and contrasting which means that having presented data in tables in chapter 4, comparison of the elements of the variables were provided either preceding the tables or after them respectively. These two approaches allowed for maximum utilization of qualitative approach and effective case study evaluation.
3.7 Sampling method
This study utilized stratified sampling method. According to Kumar (2011), stratified sampling is a type of probability or random sampling where the accuracy of the estimates is vested on the level of heterogeneity of data. Also, Kumar (2011) the case studies should have strong correlation elements for a concise and critical analysis of data and variables alike.
In stratified sampling, Kumar (2011) further identifies two ways through which the sampling is conducted. Thus stratified sampling can either be proportionate or disproportionate. Proportionate sampling is where the number of the elements from each stratum selected is proportional to the population of study. On the other hand, disproportional sampling does not give consideration to the size of the stratum. This study, therefore, adopted stratified sampling where the interviewee was selected randomly. Thus a disproportional stratified sampling was employed in this study. A sample of ten professionals was interviewed, and the results tabulated. The professionals were specifically bank experts and financial advisers that have been in the banking field for the last three years and had majored on online banking in discharging their dusties. These respondents are drawn from the employees of the bank of America. This is because they have a cumulative experience working for the institution and thus possess the valuable information sought by the study.
3.8 Validity and reliability- triangulation
In a study, both Kothari (2004) and Kumar (2011) agree that validity, reliability, and credibility are critical issues to be considered. On the side of Kothari (2004), validity is the extent to which what is intended to be measured is measured. Reliability ensures the precision and accuracy of the measurement procedure. Kumar (2011) establishes that validity in qualitative studies is measured through examination of two main aspects namely; trustworthiness and authenticity. Furthermore, trustworthiness is measured using four indicators thus credibility, transferability, dependability, and confirmability.
Reliability, however, focuses on the accuracy of the procedure for data collection and analysis adopted in the study. Thus, Kothari (2004) identifies two main elements of reliability as stability and equivalence. Stability on its side is about securing consistent results in repeated experiments. Equivalence, on the other hand, focuses on how much error or bias can be introduced by the researcher in the study. To ensure validity and reliability and thus achieve triangulation as it is often referred to, this study only analysed data presented from secondary sources that have been verified before publication. Also, the study adopted objectivity thus minimizing the introduction of error. In fact, by use of stratified random sampling method, there is no introduction of bias in the study.
3.9 Ethical concerns
This study identified three major ethical concerns and how they are addressed. The first was subjectivity (Kothari 2011). Bias is unethical in studies. It is manifested by attempts to present data disproportionately. To avoid bias, the study adopted probability sampling and presenting the facts are they are. The second ethical concern is incorrect reporting that can arise when the findings are being presented in a slanting or slightly modified manner. To deal with this, the study presented its finding in a manner consistent with the data analysis and discussions. Finally, confidentiality was maintained in the course of data analysis and discussion by not tampering with the information obtained from secondary sources.

3.10 Limitations and Delimitations of the Study
The main limitation associated with this study is that it focused on secondary sources only and thus in aspects where there little is known and highlighted in these sources, the study was limited to the data available. Regarding delimitation of study, the study was not limited to select and specific countries but tended to adopt a general view. Secondly, the sources used in the study were clearly identified in terms of the year of publication. Finally, the study was confined to secondary sources for data collection and analysis.

3.11 Conclusion
This chapter provided an elaborate exploration of the methodology employed in the research. From the information presented above, there are key issues to note. To begin with, this study employed a stratified sampling methodology of data collection. Regarding the data analysis, information was presented in tables and objectively compared. Furthermore, the study sought to ensure that triangulation is achieved through consideration of validity and reliability of the data. Additionally, ethical concerns were identified and thus the study sought to minimize bias and ensure confidentiality in the data analysis and discussion in chapter 4 and chapter 5 respectively. Finally, the study was not confined in terms of the geographical coverage but was instead confined to secondary sources for data collection and analysis.

Chapter 4 Data Findings and Presentation of Results (2,680 words approx. 15% of total Word count)
A detailed analysis of research objectives highlighted in chapter 1 above and evaluated in chapter 2 above is presented in this section. To achieve this, this section adopts a detailed, critical view of the objectives. For this reason, the analysis presents tables to further provide a clear, summarised and critical analysis. The results analysed in this section largely focus on the findings of the studies carried out by other scholars.
4.2Case study results in tables based on research objectives
To provide an analysis of the factors influencing the adoption of online banking by bank of America
Studies have identified that the financial performance of the bank of America is largely linked to the adoption and use of online banking. As presented in chapter 2 above Ayana (2014) and Gikonyo (2014) identify varying factors that can account for adoption of online banking. It is important to emphasize that there are benefits that accrue to the bank from online banking activities.
Various issues have been identified to be critical to the adoption of online banking solutions. While Ayana (2014) and Gikonyo (2014) agree that there are both internal and external factors for adoption of online banking, there are also positive and negative effects associated with each of these factors. For instance, a more vivid explanation by Gikonyo (2014) highlights that website features, website awareness and website security issues are aspects that cut across the factors for adoption of online banking. Generally however, the bank should use an online banking platform that presents more good than harm. To present a clear analysed view of the factors influencing adoption of online banking system, the table below has this information.

To critically analyse the influence of internet marketing on bank of america’s online banking
From the extensive literature presented in chapter 2 above, it is evident that the internet is a critical tool in modern age marketing. Since the development of the internet, banks have devised means through which quick and easy communication has been designed and used to reach to a wider audience. The influence of internet marketing on the Bank of America’s online banking can be positive or negative. In fact, studies have identified a correlation between internet marketing and the performance of online banking.
Social media marketing
The extensive literature presented in chapter 2 above identifies that social media has been used by banks to further their marketing agendas. Marketing has thus been facilitated through the various social media platforms. To market the products and services, organizations employ two main strategies. Either, the bank adopts the comprehensive approach or minimalist approach to pitchits promotional or advertisement messages.
There have been identified positive and negative influences of social media marketing. According to literature presented by Siddiqui& Singh (2016) the social media marketing can cause better understanding of the customer’s need through an on-going interaction between the bank and its customers. Secondly, social media marketing can give the bank rapid popularity due to the wide coverage with which the organization can access its customers. This then causes customers to respond positively to the business and consequently use online banking services.
Despite the positive influence associated with social media marketing, Siddique& Singh (2016) identify that social media marketing can have negative impacts including susceptibility of the bank to reputation attacks, negative viral social disadvantage and time consumption in designing, articulating the marketing information and programs and maintaining communications (Siddique& Singh 2016; Leeflang et al 2014).The negative aspects have been identified to scare away customers, and this kills the purchases made by customers. Customers compare both the products and the reputation of the bank when seeking to purchase products and thus disequilibrium between the products and reputation and the customer preferences and requirements causes negative purchasing.
Email marketing
The studycarried out by Owen& Humphrey (2009) identifies strategies that are mainly employed by organizations in their email marketing campaigns. These strategies include Newsletter emails, catalogue and video emails, press release, invitation and survey and Thank-you emails. In a different perspective from that presented by Owen& Humphrey (2009), Haq(2012) focuses on examining the influence of email marketing. The positive influence of email marketing includes large customer coverage, audience-tailoredmessages and increased confidentiality. On the other hand, the negative influence of email marketing includes spam traps, hacking of campaigns, lack of responsiveness from the target audience and low conversion.
Search engine optimization
Search engine optimization as an internet marketing approach can be pursued through various strategies including organic search, paid search and local search. The positive influence of search engine optimization include large audience coverage, ease access, and return on marketing and ability to monitor the searched (David 2013). However, there are some negative impacts of search engine optimization, and they include hacking/identity theft and lack of confidentiality (David 2013).

To comprehend and understand impacts of modern age marketing on online banking
The impacts of modern age marketing on online banking have been examined by different scholars (Ryan & Jones 2009). It should be understood that these impacts are either positive or negative. Currently, the impacts are also imminent between the developed nations’ marketing and the underdeveloped nations’ marketing. This section explores both positive and negative impacts of modern age marketing highlighted in chapter 2 above and additional impacts tabulated in table 3 below.
Relationship building and customer loyalty
Palmatier (2011) explains that relationship building is a major impact envisioned by the bank through various marketing strategies they employ. Generally, in a clarification from the literature presented in chapter 2 above, Brito (2012) effective relationship built from appropriate marketing strategies results in increased business.
Economic growth
Every business desires to grow and develop. This is facilitated through marketing. From the literature presented in chapter 2 above, it is evident that all the approaches employed by banks in marketing focus on profit generation and economic growth. Ryan & Jones (2009) explain that with proper marketing, banks have scaled the heights of economic growth to international markets. However, Jenyo&Soyoye (2015) diverge from the view of Ryan & Jones (2009) by explaining that cultural variations and language barriers are constraints to the bank’s marketing, and if inappropriate methods are employed, the bank won’t likely survive the competitive business world.
The table below highlights additional impacts of e-marketing on online banking

4.3 Interview results
The popularity of various online banking platforms differs significantly. 4 of the interviewees agree that mobile banking is the most popular among other platforms. This was attributed to the fact that most people possess phones that can access the internet. additionally, the phones have bank- related aplication that allows customers access bankimg services with aid of internet. QR codes have on the other hand received the least ranking. Majority of the interviewees explain that QR codes present one way communication and are quite constrained in terms of programmed services offered by following the commands of the codes. This thus fails to attract many customers and is thus atrtributed to the least scores in table above.
To provide a detailed analysis of the factors influencing online banking

Table 5: interview results of factors influencing online banking

In this study, internal factors haveattracted the highest scores in terms of their influence onadoption of online banking solution. From the results, performance of the online banking systems and financial/human resources tied with 6 interviewees each highlighting them. This means that, 6 of the interviewees agreed with the fact that to adopt a particular online banking system, the bank of America in specific concentrated more on analysis its internal potential by gauging the available financial and human resources to establish and run the system. Additionally, the level of performance of the system was also prioritized before adoption of the system for online banking.
External factors, from the table below received lower ratings with 5 interviewees emphasizing their influence on adoption of online banking by the bank of America. These scores have been achieved because majority of the respondents agreed that in adopting an online banking system, the bank didnot overly rely on the external environment at the expense of its capability. However, the external factors are as well significantly important. The scores for the negative influence presented in the table above accounts to the fact that in case of low standards of internal factors, the bank will likely design a weaker online banking system.
To critically analyse the influence of internet marketing on online banking

Table 6: influence of e-marketing

From the above table, email marketing has been identified to have the lowest scores (3 interviewees) in terms of the positive impact and highest scores (6 interviewees) in terms of negative impact that can accrue if it is used for marketing. On the other hand, social media marketing has the highest scores (6 interviewees) and lowest scores (3 interviewees) in terms of positive and negative impact respectively if used as a platform for marketing. In fact, from the interview results above, there is a correlation between the level of impact and the audience coverage. For instance, half of the interviewees highlited that search engine optimization has positive impacts and negative impacts respectively. In terms of audience coverage, search engine optimization received second best scores with three interviewees voting in its favour.
To comprehend and understand impacts of modern age marketing on online banking

Table 7: impacts of e-marketing

The above results highlight that economic development and internationalization are the most vivid positive impacts in the society and have the highest scores with 7 out of 10 interviewees reiterating their manifestation as impacts of online banking. However, 3 interviewees expresses that they present negative impactson the bank of America’s online banking. Half of the interviewees identify Customer loyalty and relationship building as positive impacts of marketing. On the other hand, the advancement of marketing as a field of study has received high negative impact than the positive impact as presented in the table above.

4.4 Conclusion
From the above analysis, it is important to conclude that modern age marketing has caused a tremendous development in the field of marketing over the ages. To account for this, there have been three dominant marketing approaches that banks use to win customers, generate sells, increase the profits and boost the growth of the bank. internet is the central medium of communication. This internet has had its influence on the marketing developed by the organization and the customer response at large. This chapter has analysed the way through which the various internet platforms influence marketing and customer purchasing habits. Furthermore, there are impacts of modern age marketing on online banking. Both positive and negative impacts have been identified and presented in the analysis above. These impacts have been analysed critically.

Chapter 5 Data analysis and Discussion (5,360 words approx. 30% of total Word count)
5.1. Introduction
This chapter presents an in-depth discussion of the various aspects identified from the literature review (Chapter 2), compared with the study findings and data analysis (chapter 4). To achieve this, the section adopts a systematic analysis of individual research objective before moving to the next. Therefore, the section compares the case studies and results tabulated above against the secondary data literature widely covered before. Finally, the interview results tabulated are also discussed each research objective.
5.2 Overview
It is evident that most study findings by scholars support the fact that marketing has significantly evolved with age. According to literature presented by Haq (2012) in chapter 2 above, the evolution of the society and the shifts in the business environments have necessitated the change in marketing strategies adopted.
Influence of Internet on marketing the faces of changes determined the type of marketing involved. In this case, therefore, organizations that enjoyed the monopoly of the market would most likely adopt the product–centered marketing with no regard to the customer network. However, the same would not happen to organizations where there was competition from other businesses.
As Rahnama&Beiki (2013) point out, however, marketing dynamics and social changes,have,by and large, saw marketing evolveto align with the tremendous changes that keep occurring. In a more specific explanation, Rahnama&Beki (2013) elucidate that the current market is characterized by numerous products in the market, internationalization, and scramble for dominance in the market. Furthermore, there is a critical change in the products through innovations and creativity, and thus every business tries its level best to pitch its product as the best. This pitching is only possible through marketing and thus the evolution in marketing approaches employed (Cronin-Gilmore 2012;Eid& El-Kassrawy 2012).
The literature presented by Ryan & Jones (2009) in chapter 2 above is supported by a financial advisor in an interview who stated that “the most significant force behind the evolution of marketing from traditional marketing to modern marketing exhibited today is technological advancement.”This highlights that the use of the internet has witnessed the bank of America battle it out in winning the online community of the increasingly growing users. In a more specific explanation from that of Ryan & Jones (2009), Rahnama&Beki (2013) explain that in traditional marketing, businesses would often design promotional messages that could take days, weeks or even months before it could be passed on to a significant number of target audience. In most cases, direct selling would be the most used marketing strategy and was confined and quite time-consuming. On the other hand, modern age marketing is characterized by ease drafting and swift spreading of the promotional messages usually drafted within the confines of the business premise yet within minutes the message could spread through the country and well, beyond the national boundaries and could be globally accessible.
Regardless of the significant shifts from traditional to modern age marketing there are some dominant channels that are still relied on today.In an interview, the marketing manager of the bank of America expressed that “Although there have been some changes, some channels like televisions, radios and newspapers are still utilised to deliver marketing messages from the organization to the audience.”Haq (2012) clearly holds that these channels are quite important and although the internet is used today, these relatively older channels are considered to be more reliable. Although Haq (2012) may be correct in his view, Jenyo&Soyoye (2015) and Keller (2009) emphasize that there are notable changes in these channels. For instance, they explain that advertisements on televisions can be presented both through the studio adverts that run on television of the online platforms of the television websites which can only be accessed using the internet. Therefore, Rahnama&Beki (2013) explain that modern age marketing has infiltrated almost every marketing strategy devised. In fact, Nusier (2015) explain that some organizations have fused modern marketing approaches with the virtually dominant and considered traditional approaches in marketing.
In modern age marketing, a model marketing campaign is built on three main pillars. These pillars have been identified by Rahnama&Beiki(2013), and they are Market, marketer, and the product. Rahnama&Beiki (2013) explain the market as the arrangement between the seller and the buyer where the seller agrees to sell the product, and the buyer agrees to buy the product. In this transaction, Rahnama&Beiki (2013) identify that the currency of the exchange is given in the exchange for the products. As part of the shift from traditional marketing, the market in the modern day is not necessarily the geographical location since products and services can be sold over the phone or online (Nusier 2005;Dlodlo &Mafini 2014).
Secondly, in line with literature presented in chapter 1 and 2 above, Rahnama&Beiki (2013) explain the product as an offering that is sought and given to satisfy a need or want. In this case, the product can be a physical tangibleitem, or service that is intangible. Furthermore, the marketer is a person tasked with identification of the buyers, market and the product to be offered in the campaign. Thus, the marketer can be a professional employee of the company or independent experts hired by the organization to pitch its products in the market (Rahnama&Beiki 2013).
5.3 Discussion of the specific objectives
Understanding online banking
In conncurrence with the case studies of Ghodeswar (2008), Claye et al (2013) and Keller (2008) the chief accountant at the bank of America in an interview expressed that “sincethe adoption of online banking, banks have developed different platforms through which customers have been able to access their accounts and perform technology aided transactions. The main feature behind these online banking initiatives is paperless transactions and lack of personalcontact between the customers and bank employees.” The chief accountant further explains that “this has been a shift from the traditional banking practice.”While Xiao (2010) emphasize that online banking has surely revolutionized banking and led to economic returns on the bank, Keelson (2012) emphasize that as a result of online banking, there have been cases of vices and fraud-related activities that have made banks and customers alike experience huge loses. The bank of America, according to the annual report of 2014 has incorporated a number of online banking activities (Bank of America 2014).
Inconcurrence with the report,literature presented in chapter 2 above identify common online banking solutions employed by the bank of America. Before discussing them, it is important to understand that the bank employs a mix of these solutions in order to achieve a wider customer coverage.
Internet banking
In support of the literature presented in chapter 2 above, Yonnopoulus(2011) explains that the Bank of America has a network-based service delivery platform that is commonly referred to as internet banking. For instance, a financial expert in the interview pointed out that “the Bank of America offers website based electronic money transfer and automatic teller machine transactions.” In concurrence, the case study by Yonnopoulus (2011) explains that in internet banking, the Bank of America employed a number of initiatives to satisfy its customers. According to the literature presented in chapter 2 above, internet banking can be achieved through electronic money transfer, automated teller machine and point of sale terminals.
Renart & Cabre (2005) explain electronic money transfer as a process where customers access network services could be websites where they transact. During electronic money transfer process, Driga & Isac (2014) explain that the customer can access their bank account from which they can transfer funds to other bank users online. The use of electronic money transfer made access to bank accounts easy and the customers are not required to travel to banks. However, Yonnopoulous (2011) differs from Driga & Isac (2014) by explaining that electronic money transfer can be susceptible to system corruption resulting to fraud or identity theft. In a similar manner, another interviewee a banking expert, highlighted that “automated teller machines and point of sale terminals depend on credit cards issued by the bank to its customers. Therefore, the customer uses the cards to access the machines and perform bank transactions among them funds transfer and withdrawals. Theft however becomes a major threat.”
Mobile banking
The chief financial advisor at Bank of America in an interview epressed that “mobile banking is related to electronic money transfer but significantly differs with the latter.” This is supported bythe literature presented by Hunt et al. (2006) who explain that in mobile banking, the customers use their mobile phone devices (smartphones) to access the bank and perform transactions. Takalani (2015), differs significantly with Hunt et al. (2006) by explaining that mobile banking is more personal that electronic banking since the customers use their own portable mobile phones. In mobile banking, Fill and Jamieson (2011) explain that customers can be able to acquire a variety of banking services among them funds transfer, bank balance enquiry, bank statements enquiry and even query other services. Better still, Linton (2016) in similar view with literature presenyed in chapter 2 above explains that besides accessing banking services, mobile phones can also be used to make phone calls and communicate with the bank officials quickly and easily.
Central to internet banking and mobile banking are the factors that determine customer use of the services. Thus, in a similar point of view with that of Percy et al (2006), three of the interviewees explained that “customer literacy and the strength of the system determine the success of online banking offered by the Bank of America.” Belch & Belch (2012) concur with the case study of Percy et al (2006) by explaining thatthe level of education and expertise of customers with regard to using the technology determine to a large extent the use of online banking. Furthermore, the strength of the banking system also determine to some extent the level that the customers will enjoy the services (Duncan 2005; Bessiere et al 2008). Generally, the interview results in table 4 chapter 4 above explain that in respect to popularity, mobile banking is more popular compared to internet banking. Majority of the interviewees supported this by explaining that many customers of the Bank of America have smart phones and largely use them to perform banking transactions at the expense of PC internet banking. By and large, the bank of America has no doubt implemented both mobile marketing and internet marketing platforms in service delivery to its customer base.
Factors influencing adoption of online banking at the bank of america
The literature presented in chapter two above highlights common factors that influence adoption of online banking by the Bank of America. These factors have been highlighted by Fill & Jamieson (2011) to be both internal and external factors. The literature in chapter two discusses most of these factors. Furthermore, table 1 in chapter 4 above presents an analysis of such factors. The interview results presented in table 5 in chapter 4 above explain that comparatively, internal factors have more influence on online banking than external factors.A financial expert in an interview stated that “the Bank of America gave much consideration to its position and capability to effectively integrate online banking services in its day to day practices.” By so doing, the bank examined the internal factors highlighted in chapter two and tabulated in table 1, in chapter4 above before adopting online banking. Basing on these data, it can be deduced that the bank made a carefull analysis of these factors because since the inception of online banking, the Bank of America has continuously experienced growth of the business and progressive economic returns.

Influence of internet marketing on the bank of america
The internet has been a central focus in the marketing strategies developed in the modern age. Products and services have been marketed using various internet platforms. Various scholars such as Epstein &Yuthas(2007), Pawar (2014) and Pall & McGrath (2009) have identified that the discovery and integration of internet has transformed lives of people, especially in the marketing sectors. A financial expert in an interview explained that “internet marketing influences the customer purchasing habits. Thus, positive internet marketing causes positive customer use of online banking and likewise, negative internet marketing causes negative customer use of online banking.”
Social media marketing
The idea behind social media is presented by NTDA (2012) in the literature presented in Chapter 2 as an online platform where users interact not only online but also access other services and products and thus the organization can utilise this platform to market its products. Additionally, Ryan & Jones (2009) assert that social media is a rapidly advancing platform and that many social media platforms keep developing and advancing with each new day. Therefore, both NTDA (2012) and Ryan & Jones (2009) agree that social media platforms are relatively new and attract a huge user following.
The literature presented in Chapter2 identifies some dominant social media platforms like Facebook, MySpace, and Twitter. However, the case study presented by Siddiqui& Singh (2016) in chapter four above that is presented in table 2 above differs from the viewpoint of Ryan & Jones (2009) as they present the strategies that are used in social media marketing. These strategies are a comprehensive and minimalist strategy. the chief accountant in an interview explains that A comprehensive strategy is where the organization invests heavily in maintaining communication on the social media. On the other hand, the minimalist strategy is where the organization delivers adverts and promotional messages but does not get too involved in tracking and keeping the communication going.
The influence of social media as an internet marketing strategy can be witnessed both in the positive and negative way. According to the literature presented in chapter 2, there are contrasting viewpoints about the influence of social media. In literature,Neti (2011) explains that the influence of social media can be explained through transparency, branding and website traffic. This is in line with one of the interviewees who highlighted that “social media is an open forum for all and through it, users can be exposed to all sorts of information.”On the other hand, Kaushik (2012) highlights that, visibility; communication and customer coverage are ways through which the social media marketing influence can be explained. In a more varying explanation, the case study by Siddiqui& Singh (2016) highlight that the influence of social media can be more simply explained through the positive and negative impacts of social media marketing. In this case, the positive and negative impacts of social media marketing have been presented in table 2 in chapter 4 above.
Social media marketing is a growing platform and has a large number of users with more new subscriptions being registered each day. For this reason, the results from the interviews presented in table 6, chapter 4 above highlight social media as the platform with high positive impacts as supported by 6 of the interviewees. This is further supported by the interview results in table 4, chapter 4 above that present social networking sites as a relatively popular approach for online banking marketing. The reasons behind these scores are similar to those presented by both Kaushik (2012) and Neti (2011). Furthermore, compared to other platforms, social media marketing has the highest coverage scores, and they are clearly presented in table 6 above. It goes without pointing out that regardless of the positive influence of social media as an internet marketing tool, there are some negative aspects of the influence presented by this type of marketing. Table 2 in chapter four above highlights some negative impacts that form the basis for the scores achieved in the interview results in table 6.
Search engine optimization
Search engine optimization has been highlighted by scholars in chapter 2 above to be a platform where the organization’s visibility defines the level of audience access and thus the marketing strategies devised largely focus on boosting the organization’s visibility. According to the literature presented by Ryan &Jones (2009), the users input particular statements on the search engines and get the results of related information which then theychoose from. Therefore, the marketing manager in an interview stated that , “to survive using this platform, the bank needs to make its communication visible when users perform the searches.”
According to the literature presented in chapter 2, there are two main approaches for search engine optimization marketing. NTDA (2012), identify that search engine optimization can be achieved through on-page or off-page optimization. However, in a view contrasting that of NTDA (2012), Ryan & Jones (2009) explain that search engine optimization marketing employs three basic strategies like paid search, organic search, and local search. These strategies are clearly presented in table 2 in chapter 4 above. Central to search engine optimization is the quality of the organization’s website and communication and use of the relevant keywords. Borrowing from the literature presented in chapter 2 above, the search engines like Google sets certain standards that content must achieve before it can be visible to the users. The bank is thus obliged to design high-quality content to increase the visibility changes and considering the fact that users are always hasty, the content that appears first is the one that would likely be clicked by the users.
While search engine optimization can be a great strategy, basing on the positive impacts highlighted in table 2 in chapter 4 above and the case study performed by David (2013), the marketing manager of the bank of America in an interview explainedthat “using this strategy can be quite hectic and can require tremendous investment of efforts and resources in getting the right expertise for quality services.” The negative impacts presented in table 2, chapter 4 above support the view of Ryan & Jones (2009). The interview results presented in table 6, chapter 4 above rate search engine optimization as second best in coverage from social media advertising.
Email marketing
The use of emails has been relatively older compared to social media marketing. However, a bank expert in an interview explained that “email marketing has just gained momentum not many years back.” In this marketing strategy, the organization designs and sends out multiple messages to the target audience to inform them of the services offered by the organization and invite them to visit the organization’s website for more information. When the audience visits the organization through the link usually provided in the email, the organization will endeavour to establish a communication and hopefully convert the audience to customers and then generate sales. Banks likewise can design email marketing messages that provides a detailed explanation of the online banking services offered by such banks and call the target audience to action. This can boost the clientele network and ensure that the banks benefit as well by offering online banking.
According to the case study by Owen (2016) in chapter 2, email marketing can be achieved through strategies that include newsletter email, catalogue and video email, press release email, invitation and survey emails. These strategies have been presented in table 2 in chapter 4 above. One of the interviewees explained that”there are no major differences in the structuring of these emails, but the differences are mainly exhibited in the content of the emails.” According to the case study by Keelson (2012) email marketing has both positive and negative influence. The positive influences of email marketing include increased confidentiality, tailoredthemessage and increased customer conversions. However, the negative influence of social media marketing cannot be assumed, and they include the susceptibility of the audience to spam traps and other forms of email frauds like phishing. Other negative influences include lack of response from the target audience and low conversion. These impacts are presented in table 2 in chapter 4 above and are responsible for the interview results in table 6 chapter four above. Generally, of the four internet marketing platforms, email marketing has the lowest percentage coverage as presented by the interview results presented in table 6, chapter 4 above. This is because, compared to other platforms, emails are slightly decreasing in popularity and coupled with the frauds associated with the emails and unresponsiveness, email marketing is slightly not effective compared with other strategies. This study identified that the bank of America has used social networks and official websites through which it interacts with the customers by answering the complaints of the customers and marketing its services.
Impact of modern marketing on online banking
The impactsof modern marketing in the banking sector, online banking to be exact, have been identified and continue to be exhibited. Different studies have acknowledged significant aspects that are linked result from modern age marketing. According to the literature presented in chapter 2, there are both positive and negative impacts of marketing. Thus, while Ryan & Jones (2009) identify the positive impacts of modern age marketing in the society, NTDA (2012) highlights some negative impacts as well.
Relationship building and customer loyalty
While relationship building is an approach to modern marketing and has been covered extensively in the preceding literature, establishment and growth of relationships is also an outcome of e-marketing. The literature presented by Palmatier (2011) is supported by the marketing manager in an interview who expressed that”an effective marketing strategy can lead to an expansion of customer network and maintenance of good communication with such customers. This thus accounts for relationship building as an outcome of marketing strategies especially those that focus solidly on nurturing relationships between the organization and the stakeholders.” According to the interview results presented in table 7 in chapter 4 above, half of the interviewees identified relationship building and increased customer loyalty as the main positive outcome of modern marketing. The level and effectiveness of marketing determine the type of impact that follows. Therefore, if bankof America employ sub-standard marketing approaches, strategies, and campaigns, they will likely experience low customer conversions and loyalty. The opposite is true for quality marketing campaigns.
Economic development and internationalization
Marketing is designed to increase a customer network. By so doing, the bank will likely boost its customer base, and this translates to increased consumption of the products and services offered by online banking. With increased consumption, the bank will keep operational and be able to develop. Thus, the bank expert in an interview clarified that “economic development and internationalization go hand in hand as outcomes of modern age marketing.”This is in line with the literature presented by Ryan &Jones (2009) in chapter 2 above where the various marketing strategies implemented by the Bank of Americatoday have high potential of being accessed globally. Therefore, by employing quality marketing strategies, the marketing manager in an interview explained that”the bank will likely generate and build an international customer network.In this situation, the financial institutionwillmost likely device mechanisms to satisfy their new found clientele, and this leads to the expansion of the business.” When examining the impacts of modern age marketing approach, it can be clearly identified that economic development is no doubt an anticipated and even achieved outcome following implementation of certain marketing strategies. For this reason, the interview results presented in table 7 in chapter 4 above highlight economic development and internationalization as the most evident outcome of marketing in the society. According to the results, 7 of the interviewees conceded to the fact that the most vivid outcome of modern age marketing is economic development and by extension, internationalization. Generally, the financial expert in an interview explained that”from search engine optimization to email and even social media marketing, the basic outcome of the strategies is generating sales and thus economic development and continual operation by the organizations, banks to be specific. With the internet, the bankcan offer online banking services and electronic money transfer to their customers across the globe regardless of their country of residence. In fact, there are partnerships that allow customers to perform interbank transfers and transactions.” For instance,one of the interviewees explained that”customers of the bank of America can be able to access and enjoy online banking services offered by the other bank and still access the money by withdrawing from such different bank.”
Growth of marketing as a field of study
With the development and significance of internet use in marketing and the powers of effective marketing strategies and messages, the field of marketing has become more and more complex and thus, nearly every large-scale organizations, banks included, have sales and marketing departments that strictly focus on studying the market patterns and developing competitive marketing strategies that have the ability of attracting a large customer network. According to the literature presented in chapter 2 above, Ryan & Jones (2009) identify that the diversification of the businesses has resulted in the need by banks for hiring professionals. Specifically, in line with the case study by Ryan & Jones (2009), the marketing manager in an interview assert that the Bank of America has a distinct marketing department that uses various online platforms highlighted in chapter 2 and 4 above to market the bank’s online banking system. In this case, education, knowledge, and experience have been relied upon as marketers define the marketing strategies developed for the organization. On the other hand, Palmatier (2011) differs by Ryan & Jones (2009) by tending to argue that the forces of globalization and technological advancements have hadsignificant impacts on the growth of marketing and its evolution. The growth of marketing as a field of study in its individual aspect has no significant recognition in the field of marketing. However, there are other impacts of marketing that have not been covered in this section, but they are clearly identified and presented in table 3 in chapter 4 above.In a lumpsome, the marketing manager of the bank of America in an interview asserted that “these impacts are both positive and negative and in most cases, their manifestation vary from one financial institution to the other.”

5.4 Conclusion
It is no doubt that marketing is a vital aspect of the life of an organization. This section has identified that there are different approaches inonline banking , and each of these approaches has its distinct level of impact. Therefore, an organization needs to carefully examine the approach that it so intends to adopt for marketing by examining aspects like the life-span of the approach so adopted. Thus, this section has identified and discussed two main online banking approaches that is internet and mobile banking. Secondly, this section has identified that the influence oftheinternet on marketing can be either positive or negative and that it can be categorized into individual strategies. The approaches used in internet marketing include social media, affiliate marketing, and search engine optimization. Third, just like the influence of the internet on marketing, the impact of modern age marketing can be positive or negative.

Chapter 6 Conclusions and Recommendations (1,790 words approx. 10% of total Word count)
6.1. Introduction
This chapter presents a summary of the discussion presented in the previous chapters above. In this case, the key aspects that have been dominant in the literature review data analysis and discussion sections concerning the study objectives are presented in a brief and summarized way. Furthermore, the study also offers the implications of the study that entails the expected impact and significance of the study to the readers of the study and the relevant stakeholders in the marketing field. Finally, the study presents the recommendations for scholars that can offer insight for future research.
6.2. Conclusions
Regarding the study objective, to provide an understanding of online banking, the study identifies that over years, banks and financial institutions have continually diffused from the traditional method of banking that was characterized by heavy infrastructural development to secure the money and other valuable materials kept in the banks, to heavy investment in technology safety to secure online records and documents of the clientele.With respect to marketing approach, the bank of America has shifted from personal marketing to a more complex, technology aided marketing approach that almost singly depend on the internet to design, access and communicate marketing messages to the clientele. From the literature in chapter 2 above, there are dominant online banking strategies that have been used. These include internet banking, mobile phone banking, and social networking and QR codes. From these approaches, mobile phone banking has been identified in table 4, chapter 4 above to have the widest popularity because compared toPersonal Computers, many people own smartphones that facilitate the banking transactions.
Regarding the study objective, to analyze the factors for adoption of online banking at the bank of America, this study identifies that both internal and external factors influence online banking (Fill and Jamieson 2001). In this case, financial and human resource and performance of a particular online banking system are internal factors that the bank ought to consider when integrating and operating online banking business (Ayana 2014). On the other hand, competition, level of technological advancement, legal framework and the standard ofICT infrastructure are crucial external factors influencing the adoption of online banking (Gikonyo 2014). Financial and human resource elucidate that when adopting the online banking system, the bank examines its human resource including availability of labour and the level of expertise and technological knowhow of the workforce to run and manage the system. In a similar manner, the bank examines its financial position in terms of the capital availability to integrate the online banking system in the bank’s operations (Ayana 2014).
Competition level is an external factor that influence adoption of online banking. Gikonyo (2014) explains that before adopting online banking, and even in the course of using online banking, the bank of America analyses the systems of banking performed by other competing financial institutions in the marketandanalyze against its system. This results in issues like innovation and system upgrade among other results presented in table 1 in chapter 2 above. The legal framework goes hand in hand with the government support since the government is responsible for regulating the banking industry. Therefore, the bank of America operatesits online banking system subject to the legal requirements and government support in countries where the bank’s operations are carried out.
The level of ICT infrastructure and the technological advancements largely define the online banking system of the bank of America. The adoption of their banking system and the operation of online banking relies on the strength of network to facilitate online bank transaction. This network also relies on the ICT infrastructure in place and the level of technological advancement. It is for this reason that the annual report of 2014 explain that the bank of America endeavours to employ the latest technology in banking (bank of America 2014).
In regard to the study objective to comprehend and understand impacts of e-marketing on online banking,this study identifies some impacts both positive and negative that are associated with modern age marketing. It is important to explain that the level of impact of marketing differs significantly from one impact to the other. There are three main impacts of e-marketing on online banking , and these are economic development, customer loyalty and business reputation (Lantos 2011; Resnick et al. 2011). Generally, from the literature presented above, if the bank employs quality marketing strategies, their impacts are mostly positive. On the other hand, poor marketing strategies can affect the bank in the competitive marketing world (Roggio 2012).
By and large, the financial institution can employ certain marketing strategies to ensure that it benefits significantly from the market. To begin with,the bank of America ought to build and expand its market. Thus, the bank can focus on research/evidence based marketing where it performs studies about the market dynamics and develop the appropriate marketing strategies likely to achieve its goals (Pride 2008; Shiffman&Kaushik 2009). The research-based marketing strategy should focus on SWOT analysis where the internal environment of the business is examined by assessing the strengths as well as the weaknesses of the organizations.Having analysed the internal environment, the bank should examine the external environment by examining the opportunities and the threats that face the organization and has a significant impact of fostering or inhibiting its operations respectively (Yannopoulus 2010; Shemi& Proctor 2013). A marketing campaign that is likely to counter the weaknesses and threats of the business should be used. Secondly, the bank can opt for a holistic marketing approach which entails a mixture of strategies some of which focus on brand building, relationship building, and marketing communication which has a higher benefit on the bank’s online banking venture (Tong &Hawkey 2009; Solomon et al. 2010;Pichop&Mndiga 2007).
6.3. Implications of the study
This study highlights some issues significant for modern age marketing. To begin with, this study highlights that in the current business world, marketing is important as businesses have sought to build their empires. From this study, there is a clear answer to the performance of the organizations in the market in relation to the marketing approach adopted. For instance, with this study, it can be understood why certain financial institutions are dominant in the market and despite the fact that although other businesses might produce more quality products, their output are still low compared to them. This might be an explanation for the power of brand building over other short-term marketing strategies that keep changing.
Secondly, internet is quite central in the modern age marketing since online banking transactions are performed through the internet and digital platforms. To draw a clear understanding of the internet’s capability for marketing, the statistics highlighted in this study attest to the fact that the top brands in the marketing, exhibiting high returns largely integrate internet in service provision and marketing.
Third, the organization can utilize some marketing approaches to ensure long-term business development. To begin with, this study provides strategies that organizations can employ in marketing. For instance, brands, relationships, and communications can be built and maintained for the advantage of the business. In fact, the study has developed a concrete knowledge base that can be adopted by the business to understand the shortfalls likely to be witnessed in each marketing strategy. This will help the bank in selecting the approach that best suits its needs and perhaps recommended to deliver better output.
Fourth, this study points out clearly that in the current competitive world, financial institutions can utilise some good practices in marketing to build their business and keep their operations sustained. These practices include research/evidence-based marketing and holistic approach that make use of both the internet and dominant strategies that have been employed over time.
Finally, this study compares someaspects, and it can be concluded that modern age marketing, compared to the traditional marketing is far much better since with modern marketing, swiftness and wide audience coverage/ internationalization are the key features that facilitate all the strategies developed. There appears to be one general goal by each financial institution employing modern marketing approach for online banking, and this is economic growth and internationalization of the operations as well as market dominance in the current quite competitive market.

6.4. Recommendations
There are some recommendations that can be deduced from this study. First, financial institutions should perform feasibility studies before selecting certain marketing strategies since just like there are different results, the requirements, and resources consumed when using the strategies differ from one strategy to the other. With an understanding of the financial position, there is the likelihood that the business will select the most fitting approach and market its online banking business effectively.
Secondly, this study recommends that attention should be focused on marketing and the banks in need of expanding their online banking operations should not just focus on producing quality products and expecting the products to sell by themselves. Employing some marketing skills and even staff can be well-thought options to ensuring that the financial institutions increase their operations significantly.
Finally, scholars of marketing can find this study to be quite resourceful since instead of focusing on only one or two approaches, it presents a large view and critical analysis of various aspects in relation to modern age marketing for online banking, and thus presents the viability of various approaches to internet marketing, and present the expert view of the performance level of different approaches.

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Appendix 1:Case study data: factors influencing adoption of online banking

Appendix 2: The interview results
To provide an understanding of online banking

To provide a detailed analysis of the factors influencing the adoption of online banking

Modern marketing approach and effectiveness scores
To critically analyse the influence of internet marketing on online banking

Influence of internet on marketing
To comprehend and understand impacts of modern age marketing on online banking
Analysis of the impacts of modern age marketing on online banking



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